On Thursday the eighth former employee of SAC Capital was convicted of insider trading. Mathew Martoma was found guilty of using inside information to recommend that SAC Capital sell shares in a pharmaceutical company. He faces up to 10 years in prison if the conviction stands.

But the man behind the firm that bares his initials – Steven A Cohen – is alive, free, and phenomenally wealthy with a $9.4 billion net worth. A fortune Cohen amassed via SAC Capital and its criminal practices.

As a guilty verdict on two counts of securities fraud and one count of conspiracy was read in the courtroom in Lower Manhattan, Mr. Martoma’s wife, Rosemary, a pediatrician, cried, while he sat stone-faced…

For Mr. Cohen, meanwhile, it is business as usual, albeit on a somewhat reduced scale. He is moving ahead with plans to convert his 22-year-old firm into a family office that will manage no outside money, just his $9 billion in personal wealth. The firm will still employ more than 800 people and maintain offices in several cities.

The government has forced SAC Capital to shut down, but $9 billion is some nice seed money for Cohen’s new venture.

The Martoma case is likely the last criminal prosecution related to SAC. Cohen still faces a civil charge from the SEC for failure to properly supervise his criminal traders which if nothing else proves the government has a sense of humor. It was common knowledge on Wall Street that Cohen and company gained from inside information; it’s unlikely Cohen was unaware of his traders activities, especially given the incredible benefits he gained from them.

[T]here are no pending criminal cases against any former or current SAC employees. (The firm agreed in November to plead guilty to insider trading violations and pay a $1.2 billion penalty.) And prosecutors are not close to bringing any charges against Mr. Cohen, according to a person briefed on the investigation, who spoke anonymously because he was not authorized to speak publicly about it.

The fat cat greedheads ALL have given each other a Get Outta Jail Free pass, and they have some unsigned agreement that they’ll all flip on some of their Help to take the heat.

I don’t know if the Help that gets screwed is promised some big money when released from Jail or not. It wouldn’t surprise me. Probably this Martoma drew the short straw. boo hoo hooo… I’m sure he salted away million$ in some fancy off-shore account, too.

From what I’ve read about SAC, it was one big crime syndicate. What else is new? Once in a while, one these sleasy crooks gets tossed into the Big House but not enough of ‘em and not often enough.